As the most populous Southeastern Asian country, Indonesia has seen a thrive of its financial industry in recent years. But despite the massive scale of its economy, the country still has a long way to go in terms of financial regulation credibility. Upon investors’ requests, WikiFX team has been visiting forex brokers based in Indonesia. After checking out on Soegee Futures last time, we’re visiting Royal Trust on this trip.
The Reserve Bank of Australia is likely to mention the negative effects of the wildfire on economic outlook in the February policy statement. The main short term impact of wildfire will be on farm production and private investment.
Recently, Mr. Lin, a Malaysian investor, reported to WikiFX how he was defrauded by the illegal forex broker Stone Lion.
Near the end of the year, forex market is still busy as ever, while the illegal forex brokers are taking the opportunity to defraud investors. Forex scams related to exchange rates are difficult to curb despite the regulatory efforts. Upon investors’ request, WikiFX team recently visited the licensed branch of forex broker 33option in Cyprus.
In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. These illegal brokers target the typical mindset of investors to make money quickly and induce investors to engage in unregulated or high-risk investments, causing them heavy losses. Recently, Ms. ANGELIC0905 from Indonesia told WikiFX about how she was defrauded by the illegal broker OLYMPTRADE.
Having said goodbye to 2019, the forex market soon entered the first trading day in 2020. Due to the long holiday, the market has not been very liquid at the start of a new year. USD may be largely affected by political factors, while the move of other currencies this week has been signaling further trend. Let’s take a look on the forex market in the first week of 2020.
Regulatory information suggests that the licensed branch of forex broker Pasifik Futures in Indonesia is at APL Tower Central Park Lantai 30, Jl. LetJend S. Parman Kav. 28 Jakarta Barat, and WikiFX team recently visited the broker at the spot.
Despite all the forex scams being exposed on media everyday, many investors still dive into the forex market with the hope of making profits; yet blinded by temporary gains they may unconsciously fall into traps. Recently, an Arabic investor filed a complaint against RCPro and told WikiFX how this illegal broker swindled his deposits.
In recent years, as binary options frauds become more frequent worldwide, relevant regulatory agencies in many countries have issued warnings or bans on binary options trading. 24option, as one of the leading and longest-running binary options brokers, also failed to escape the fate of being banned.
From historical trends, gold usual fares quite well from the first trading day after Christmas until late January next year, falling only in 2009 and 2010, while increasing in other years during this period, with an average growth of 5%. History suggests that late December is a good time for purchasing gold, as the price usually rallies at the end of the year and early January next year.
Recently, investor in Thailand exposed the illegal forex broker SMGI Global through WikiFX and social media like Facebook, accusing the broker for blocking investor’s withdrawal channel and inflicting heavy losses on investor.
After Christmas, the market gets busy again. Despite the somewhat gloomy previous figures, the first phase of China-US trade agreement had brought some feel-good factors for Christmas. But after the holiday, the market will again face down-slope risks in US dollar which may continue to be the market’s theme in the following months.
Former US Federal Reserve Chairman Greenspan warned during an interview with CNBC that inflation, although rather still so far, is bound to climb as US budget deficit constantly grow, posting greater threat to the economy.
Recently, investors reported that the broker Ortega Capital’s address on its official website and its regulatory address on LFSA (Labuan Financial Services Authority) website are inconsistent. The broker also charges a minimum deposit of US$ 5,000, and the demo account registered by new user cannot access the server.
France’s foreign debt for one quarter in 2019 exceeded 100% of GDP and reached a record 2.14 trillion euros, which means the French president Macron’s election promise to reduce the country’s debt by 5% within 5 years has remain unfulfilled.
Another forex broker is caught in scandal, and this time it’s PGWG, a broker that used to be high-profile and popular with its name shown on Time Square.
According to regulatory information, Soegee Futures’ licensed branch in Indonesia is at Graha Selaras LT .3, Jl. K.H. Mas Mansyur No.59 Jakarta, and WikiFX team recently visited the broker at the spot.
Ms. Ren is an ordinary investor, she was introduced to the illegal broker NOVAK in mid-August and made a deposit of US$1,800. But unexpectedly, her account was suspended soon after she made the transaction, while the customer service of NOVAK and the IB that introduced her to it both became out of reach.
After more than a year’s busy preparation, WikiFX Magazine will be released in Hong Kong for the first time! On this special occasion, we’d like to give our sincerest thanks to our clients and business partners for your supports.
WikiFX | News 2020/2/15 7:17:31
WikiFX | News 2020/2/16 1:30:49
WikiFX | Exposure 2020/2/17 9:48:33
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